MPF: San Antonio apartment trends 3Q 2014MPF: San Antonio apartment trends 3Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=21802015-02-24T10:47:00Z2014-12-16T00:00:00Z

SAN ANTONIO - Like other major metros in Texas, San Antonio’s apartment sector showed strong growth coming out of the recession, according to MPF Research.

But unlike those other metros, San Antonio already appears to be reverting to a slow growth pattern that is more consistent with its own historical performances.

Structurally, the San Antonio metro is a more moderate-growth metro — heavy on government-related jobs, but not on large private employers.

Eight of San Antonio’s ten largest employers are concentrated in either the public sector or in health care, which helps during economic downturns but limits upside potential during prosperous times.

Economic progress and population growth doesn’t translate into housing demand as quickly in San Antonio as they do in the other metros that have given Texas a fast-growth reputation.

Still, San Antonio’s relatively strong performances coming out of the recession led to increased apartment development.  

Properties sampled 675 Units sampled 141,737 Submarkets 14

What changed this quarter? In 3Q 2014, demand remained at healthy levels and outpaced new supply. As a result, occupancy jumped 0.4 points quarter-over-quarter, pushing the overall rate to 93.6 percent. Meanwhile, same-store rental rates increased 0.9 percent in the quarter.

3Q 2014 San Antonio Apartment Trends
Effective Rent Occupancy Annual Job Change Annual Permits Annual Demand Annual Completions
$838 93.6% 24,300 jobs 3,693 units 5,035 units 6,233 units

For a submarket map and additional information, read more at MPF Research.

tag: San Antonio data, apartment

Online news
San Antonio-New Braunfels
http://www.realpage.com/mpf-research/reports/san-antonio/Read more at {Source}

 Search NewsTalk Texas